Old Mutual Wealth: Nkululeko Madonko

Nkulu joined Old Mutual Wealth in October 2017.

Old Mutual Wealth Head of HR Nkululeko ‘Nkulu’ Madonko oversees the business areas of Transformation, Culture and Talent Management, and provides strategic direction and tactical implementation of the Human Resources Capital Strategy and People Plan to the Wealth team.

Before taking up this position, Nkulu was head of the HR team for Broker Distribution and Agency Franchise Distribution at Old Mutual Personal Finance, having first joined Old Mutual in August 2014 as a Senior Human Resources Business Partner. A Rhodes University graduate, Nkulu has over 20 years’ Human Resources Generalist experience, gained from organisations such as Unilever, Shell and Absa Barclays.

Nkulu is holds an Honours degree in Industrial Psychology and serves on the board of Astute and LifeMatters Foundation; a Non-Profit Organisation supporting disadvantaged and at-risk primary school learners.


Oct 2017 – Present:     Head, HR, Old Mutual Wealth 

Aug 2014 – Sep 2017:  Senior HR Business Partner, Old Mutual South Africa 

Oct 2006 – Jul 2014:    Senior HR Business Partner, Barclays Africa Group


Jan 2004 – Sep 2006:   HR Business Consultant, Shell Petroleum South Africa 

Jan 1997 – Dec 2003:   HR Manager, Simonsberg Cheese, Unilever South Africa


1997: B.Soc.Sci (Hons), Industrial Psychology (Cum Laude), Rhodes University

About Old Mutual Wealth

Our Group was established in Cape Town in 1845 as South Africa’s first mutual life insurance company, offering financial security in uncertain times. Old Mutual Wealth is part of Quilter plc, a leading provider of advice, investments and wealth management both in the UK and internationally, managing £118.1 billion of investments on behalf of over 900,000 customers (as at 30 September 2018). Quilter plc is our group holding company and it listed on the London and Johannesburg stock exchanges on 25 June 2018.